Logan Capital Management Inc. Reduces Stake in Charles River Laboratories International, Inc. $CRL

Key Points

• Logan Capital Management Inc. reduced its stake in Charles River Laboratories International by 47.5%, holding 11,574 shares valued at $1.74 million as of its latest SEC filing.
• Several institutional investors, including Goldman Sachs, made significant investments in Charles River Laboratories, with Goldman Sachs increasing their stake by 407% in the first quarter.
• Analysts have a consensus rating of "Hold" on Charles River Laboratories, with an average price target of $177.07, indicating mixed market sentiment.

Logan Capital Management Inc. lowered its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 47.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,574 shares of the medical research company's stock after selling 10,482 shares during the period. Logan Capital Management Inc.'s holdings in Charles River Laboratories International were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CRL. Algert Global LLC bought a new stake in shares of Charles River Laboratories International during the fourth quarter valued at approximately $214,000. Balyasny Asset Management L.P. purchased a new position in shares of Charles River Laboratories International in the fourth quarter valued at $1,052,000. Deutsche Bank AG boosted its stake in Charles River Laboratories International by 10.0% during the fourth quarter. Deutsche Bank AG now owns 232,492 shares of the medical research company's stock worth $42,918,000 after buying an additional 21,151 shares during the period. Jefferies Financial Group Inc. boosted its stake in Charles River Laboratories International by 226.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 17,802 shares of the medical research company's stock worth $3,286,000 after buying an additional 12,353 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Charles River Laboratories International by 22.3% during the fourth quarter. Janus Henderson Group PLC now owns 56,288 shares of the medical research company's stock worth $10,390,000 after buying an additional 10,270 shares during the period. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Stock Down 4.1%

NYSE:CRL traded down $6.51 during mid-day trading on Friday, reaching $153.23. The company's stock had a trading volume of 768,762 shares, compared to its average volume of 734,361. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $230.02. The stock has a fifty day moving average of $160.79 and a 200-day moving average of $148.85. The firm has a market capitalization of $7.54 billion, a PE ratio of -115.21, a price-to-earnings-growth ratio of 5.11 and a beta of 1.47. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.76 million. During the same period in the prior year, the firm earned $2.80 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the transaction, the executive vice president directly owned 24,116 shares in the company, valued at approximately $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRL. Evercore ISI lifted their price objective on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Jefferies Financial Group raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $142.00 to $195.00 in a research note on Tuesday. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $188.00 to $182.00 in a research note on Friday, May 23rd. Citigroup raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $150.00 to $200.00 in a research note on Wednesday, July 9th. Finally, Wall Street Zen raised shares of Charles River Laboratories International from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $177.07.

About Charles River Laboratories International

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).